Worldwide Biomaterial Market is Projected to grow at a CAGR of ~12% till 2022 | Top Key Players - Royal DSM (Netherlands), BASF SE (Germany), Corbion N.V. (Netherlands), Covestro (Germany), Invibio Ltd. (U.K.), Carpenter Technology Corporation

Market Research Future has published a half-cooked research report on Biomaterial Market. The Global Biomaterial Market is expected to grow at a CAGR of ~12% during the period 2016 to 2022.

Biomaterials are those materials which can be biological in nature or synthetically derived materials that are used in medical device or in implants. These are non-drug substances suitable for inclusion in system that replace or augment the function of tissue or an organ. They have a wide range of applications from joint and limb replacements to artificial arteries, contact lenses and dentures. On the basis of the tissue response type the biomaterial can be divided into bio-inert that are illicit no or minimal tissue response, bioactive that encourage bonding to surrounding tissue and Degradable, or resorbable biomaterials that are mostly incorporated into the surrounding tissue, or disappear completely over a period of time.

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On the basis of the material they can be metals which are typically inert in nature, ceramics which can be inert, active or resorbable and polymers are mostly inert or resorbable in nature. The metallic biomaterials are used for load bearing applications that requires sufficient fatigue strength to endure the rigidities of daily activity such as walking, chewing etc. while the ceramic biomaterials are frequently used for hardness and wear resistance such as articulating surfaces in joints and in teeth as well as bone bonding surfaces in implants and the polymeric materials are usually used for their flexibility and stability and are also used for low friction articulating surfaces.

The global market for biomaterials is growing due to the increasing prevalence of chronic diseases, the increasing demand for regenerative medicines. Furthermore, increasing advancement in medical technology and government funding for the healthcare are some of the factors driving the market for biomaterials.

Global Biomaterial Market:

The Global Biomaterial Market has been evaluated as a growing market and it is expected that the market will touch high growth figures in future. Factors such the advancement in the technologies for the treatment of chronic diseases and increasing healthcare expenditure by the nations will drive the growth of the market. The global Biomaterial market is expected to grow with CAGR of ~12% during the forecasted period.

The major participants of this market are: Royal DSM (Netherlands), Collagen Matrix, Inc. (US), Berkeley Advanced Biomaterials, Inc. (California), invibio (UK), BASF SE (India), Covalon Technologies Ltd. (Canada), CRS Holdings Inc. (US), Bayer AG (Germany), Zimmer Biomet, Corbion (Netherlands), Wright Medical Group N.V. (US) and others.

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Regional Analysis:

Depending on geographic region, Biomaterial market is segmented into four key regions: North America, Europe, Asia Pacific, and Middle East & Africa. Globally North America is the largest market for Biomaterial as they deploy the most advanced healthcare technologies and the own the most advanced healthcare infrastructure and their civilized reimbursement policies. Europe is the second-largest market for Biomaterial. Asia pacific region is expected to be fastest growing region in Biomaterial market due to rising awareness among the patients and increasing healthcare expenditure.

Segmentation:

Global biomaterial market has been segmented on the basis of type which comprises of bio-inert biomaterial, bioactive biomaterial, bioresorbable biomaterial and others. On the basis of material; market is segmented into metals, ceramics, polymers and others. On the basis of application; market is segmented into orthopaedic, dental, cardiovascular, cosmetic surgery, ophthalmologic, wound care, drug delivery systems and others.

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